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Wednesday: Existing Home Sales, Unemployment Claims, Durable Goods

Wednesday:• At 7:00 AM ET, The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.• At 8:30 ...


Hawaii Sees Big Slowdown In Real Estate Market 

According to a new report from West Hawaii Today, the Big Island (officially named Hawaii), the largest island in the US' Hawaiian archipelago in ...


6 Charts That Show The Collapse Of Traditional TV, With Streaming Close Behind

Traditional television is dying at an accelerating pace and the "solution" - streaming "skinny" bundles - isn't looking that much better. The Wal ...


District Federal Court Rips Administration on Census

I have had enough court time to last a life time. While mine was not fun and it was a battle, this I find hilarious. It is a well placed shot acro ...


Notes From Underground: Podcast? Yes, Podcast

It was a pleasure to spend time with Peter Boockvar, David Rosenberg and Richard Bonugli as we prepared a Thanksgiving feast for the global macro ...


20/11/18: Bitcoin's Steady Loss of Fundamentals

Base rate fallacy is one of the key behavioral heuristics or biases in economics and finance, defined as a cognitive error whereby too little (or ...


Stocks and Precious Metals Charts - Scam America

"Nevertheless, real sums have started to evaporate. And much of it happened with the biggest stocks in so-called tech. The seven FANGMAN stocks – ...


WTI Barely Bounces After Surprise Crude Draw

After the collapse in the energy complex today amid concern OPEC’s plans to cut production won’t be enough to stem a surge in stockpiles, all eyes ...


A Thanksgiving Week sector review

Mid-week market update: In light of the US holiday shortened week, I thought I would do one of my periodic sector reviews to analyze both sector l ...


Subprime Rises: Credit Card Delinquencies Blow Through Financial-Crisis Peak at the 4,705 Smaller US Banks

So what's going on here?


That Honig-Morgan Stanley Story

On Friday November 16, I ran a story about Barry C. Honig and his Morgan Stanley investment adviser Kyle Wool. I had interviewed a person via emai ...


John Burns: Builder Confidence "Feels more like a 50 to me"

Yesterday the NAHB reported that builder confidence declined sharply to 60 in November from 68 in October.Here are some interesting comments on co ...


"It Could Never Happen Again...Right?"

Is it really different this time? h/t TS Lombard FANG Stocks just hit 10-month lows...


Update on the CrashTrak Equity Profile - A Banquet of Consequences Part II

"One of the most disturbing facts that came out in the [Adolf] Eichmann trial was that a psychiatrist examined him and pronounced him perfectly sa ...


Catastrophe Bonds: A Primer

Most bonds are a way for corporations and government to borrow money. A catastrophe bond is different. It's effectively a way for an insurance fir ...


Did The Smart Money Flow Index Signal The Fang/Semi (Tech) Nosedive?

Did the Dow Smart Money Flow index signal the recent decline in the tech sector? Follow the smart money!! On a different note, a friend of mine f ...


Surveying the Damage in Stocks

Stocks are getting massacred. Absolutely slaughtered. Pounded into submission. Markets are in turmoil. Investors are panicked, shellshocked and da ...


Housing Doldrums Continue: 1 Unit Housing Starts Down 1.82% MoM (-2.6% YoY), But 5+ Unit Starts Up 6.19% MoM In October

Yes, the housing market nationally remains in the doldrums. 1-unit detached housing starts in October declined 1.82% (and -2.6% YoY). But 5+ multi ...


Against foxes

Nick Cohen makes a good point: Political correspondents, who couldn’t find a big picture in a multiplex, buzz around Westminster hyperventilating ...


Starts, Permits Offer No Hope For Housing's Annus Horribilis

With homebuilder optimism finally collapsing down to the reality of 'hard' housing data, any glimmer of hope is clung to as if it was writ in ston ...


"People Have Panicked" - Crypto Collapse Accelerates, Bitcoin Plunges Towards $4,000

Having broken below 6k last week, and 5k yesterday, Bitcoin's collapse is accelerating towards $4,000 as crypto-guru John McAfee wrote on Twitter, ...


Fed Versus ECB (Godzilla Versus Mothra)! 18 European Nations Now Have Negative 2 Year Sovereign Yields As Fed Raises Rates (NASDAQ Tanks 13% Since Peak)

The large Central Bank monsters are fighting. Instead of Godzilla versus Mothra, it is it The Fed versus European Central Bank (ECB). As the US Fe ...


Deutsche Bank Shares Hit Record Low On Massive Money Laundering Fears

The situation for Deutsche Bank investors is going from bad to worse, as shares of the largest bank in Europe have now erased half their value sin ...


The ESM is being made ready to lead the next set of Euro area bailouts

Yesterday saw something of a change in the way that the Euro area would deal with a future crisis. A special purpose vehicle or SPV that was creat ...


Let’s Rebuild Mexico Beach

By J.D. ALT It’s telling that in the media coverage about the damage inflicted by Hurricane Michael, there are a lot of stories about how the citi ...


Are Millennials Killing the Thanksgiving Turkey?

There's a long list of popular products and institutions that Millennials are purportedly killing. Beer. Department stores. Bar soap. Movies. ...


Was There a Blue Wave?

In the 2018 midterm elections on two weeks ago on November 6, Democrats gained about 38 seats in the House of Representatives with results for a f ...


"A Daisy Chain Of Defaults": How Debt Cross-Guarantees Could Spark China's Next Crisis

On November 8, China shocked markets with its latest targeted stimulus in the form of an "unprecedented" lending directive ordering large banks to ...


FANGMAN Stocks Plunge 4.4% Today, Down $905 Billion, or 20%, since Aug. 31

It gets costly when the entire market depends on a handful of over-hyped mega-caps.


Saudis Agree To Yemen Peace Talks - Ceasefire In Effect For First Time Since War's Start

The prospect for peace - or at least a lasting ceasefire - is advancing rapidly following a surprise weekend proposal by Yemen's Houghis to halt a ...


Inside Carlos Ghosn's Opulent 2016 Wedding At Versailles

Thanks to Japan's culture of not compensating CEOs with exorbitant sums, many suspect that Carlos Ghosn's 'misappropriation' and 'misreporting' of ...


Dismal UK Housing Market Posts First Annual Decline In 7 Years

For years, the UK housing market, and especially the London real estate bubble - just like junk bond spreads - appeared invincible. And, just like ...


Tuesday: Housing Starts

From Matthew Graham at Mortgage News Daily: Mortgage Rates Maintain Recent LowsMortgage rates unexpectedly dropped to their lowest levels in more ...


"Democratic Socialist" Ocasio-Cortez Couldn't Name The 3 Branches Of Government

If you needed more evidence that "Democratic Socialist" Alexandria Ocasio-Cortez - who, at 29, is the youngest woman ever elected to Congress - is ...


Stocks and Precious Metals Charts - Brexit and Trexist - US Land of Delusions

"Money is not humanity’s best subject.  And although our body of scientific knowledge grows with each passing year, when it comes to financial mat ...